DISCLOSURE OF ENVIRONMENTAL INFORMATION BY COMPANIES LISTED IN SUSTAINABILITY INDEX– ISE

Resumen

The main purpose of this article is the analysis of environmental information showed in Financial Statements of the partaking companies in the stock book of Sustainability Index – ISE, from São Paulo Stock Exchange – BOVESPA, on Electric Energy, Chemical & Ironworks and Metallurgy sections during the period between 2007 and 2008. The analysis of the Financial Statements published by the 13 researched companies had the purpose to verify which environmental information is showed and how it is presented. The motivation of the study comes from the importance of the disclosure of environmental as a way to account for all the stakeholders, aiming at the correct analysis of the environmental by society, for instance, the captivation of new investors. The current study classifies itself as applied, exploratory and descriptive. It is about a documental research related to proceedings of collected and qualitative data in the analysis. The main results point that the Social Balance is used by all the companies in order to spread environmental expenses by presenting specific indicators. The Administration Report comes after and it is also used by most part of companies to this aim. Despite the disclosure of the companies’ involvement, it is observed that the application of environmental indicators is still explored in these sections.